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What’s driving supermarkets' record profits?

What’s driving supermarkets' record profits?

The price of food is soaring and so are the profits of Canada’s major grocery stores, raising questions and concerns among consumers, politicians and economists about their conduct. A parliamentary committee is scheduled to question officials for Metro and Save-On-Foods about their prices today and representatives from Loblaws and the owner of Sobeys defended themselves at the committee last week, saying they are not taking advantage of inflation to drive profit. Today on Front Burner, we’re talking to Jim Stanford, an economist and the director of a progressive think tank called the Centre for Future Work, who says grocery stores are profiting off of inflation, at the expense of struggling Canadians and that they are far from the only industry doing it.

Front Burner · CBC

December 12, 202228m 56s

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Show Notes

The price of food is soaring and so are the profits of Canada’s major grocery stores, raising questions and concerns among consumers, politicians and economists about their conduct. A parliamentary committee is scheduled to question officials for Metro and Save-On-Foods about their prices today and representatives from Loblaws and the owner of Sobeys defended themselves at the committee last week, saying they are not taking advantage of inflation to drive profit. Today on Front Burner, we’re talking to Jim Stanford, an economist and the director of a progressive think tank called the Centre for Future Work, who says grocery stores are profiting off of inflation, at the expense of struggling Canadians and that they are far from the only industry doing it.
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